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Yahoo Scores Big-Name Financing

Yahoo has announced that it has secured financing from a group of significant media, publishing, and venture capital firms.

Among the investors attracted by Yahoo's recent round of corporate financing were Ziff-Davis Publishing, Reuters New Media, and Japan's Softbank. The group acquired 12 percent of the company, but the exact figure raised has not been released.

Yahoo produces a free computerized index system to help Web surfers wade their way through the sometimes overwhelming mass of information available. Company officials say the money will be used to expand the business with an eye on the international market.

The news that big money is backing the Internet start-up and the fact that it is currently one of the few profitable services on the Net will no doubt start investors mouths watering for an initial public stock offering. Analysts predict it could happen sometime within the next 12 months.